I don't like using the iPhone as a hotspot, I'm worried about the phone's battery (although it's new enough that it's not really a problem now), and it doesn't seem very reliable. I have a separate hotspot that I keep on all the time when I'm at work and I use it only occasionally, but I like the comfort of having it. I used to have a separate plan for this but now I can have a second SIM card on my phone's plan, which will be cheaper and still enough for my needs.
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